The EU Commission conditionally approves a State aid given to a German bank (WestLB)

The WestLB restructuring decision*I. Introduction On 12 May 2009, the European Commission took a final decision [1] on State aid given to German bank WestLB AG, by approving a €5 billion risk shield. This conditional decision followed an in-depth investigation [2] opened in October 2008, and was the first step on the way to a final solution of a long story which started many years ago. WestLB is one of Germany’s seven, regionally organized public Landesbanks, which not only act as a central giro institution for local saving banks (Sparkassen), but also offer retail, wholesale, special project finance and corporate banking services. Investment banking services, in particular, have over time gained more importance in the balance sheet structure of Landesbanks. Landesbanks have long

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Sabine Crome, Max Lienemeyer, Marcel Magnus, Anna Samsel, The EU Commission conditionally approves a State aid given to a German bank (WestLB), 12 mai 2009, e-Competitions May 2009, Art. N° 35031

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